ICBA Statement on Fed Gov. Mark Olson’s Appointment as Chairman of the PCAOB

Washington, D.C. (June 12, 2006)—Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement on Federal Reserve Board Governor Mark Olson's appointment to serve as chairman of the Public Company Accounting Oversight Board.

"ICBA congratulates Mark Olson on his appointment to serve as chairman of the Public Company Accounting Oversight Board. Mr. Olson's experience as president and CEO of a community bank, as a partner with Ernst and Young LLP, and as a Federal Reserve Board Governor make him uniquely qualified to understand the complex accounting issues and the regulatory burden facing publicly held companies including publicly held banking institutions. ICBA looks forward to working with Mr. Olson and wishes him well in his new position."